Oct 2, 2018

PepsiCo's drinks business shines on Indra Nooyi's last day as CEO

Photo: Joe Raedle via Getty Images

PepsiCo's North America beverage business rebounded Tuesday after reporting better-than-expected earnings and revenue in the company's most recent quarter as long-time CEO Indra Nooyi prepares to step down.

Why it matters: PepsiCo, which owns Frito-Lay, has been riding high on its snacks business while investing and diversifying its drinks unit as consumers shift away from sugary drinks. In August, PepsiCo announced plans to acquire carbonated water-maker, SodaStream.

Go deeper

Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

India gives Trump warm welcome as brutal protests rip New Delhi apart

People supporting India's new citizenship law beat a Muslim man in New Delhi, India. Photo: Danish Siddiqui/TPX/Reuters

While President Trump enjoys a hero's welcome in India, that nation's capital is being torn apart by violent protests between Hindus and Muslims.

The state of play: At least 186 people — 56 police officers and 130 protesters — have been injured and 10 killed in recent clashes, a New Delhi police spokesperson told the AP.

Go deeperArrow1 hour ago - World

Wall Street sees 2nd day of brutal sell-off

Photo: Johannes Eisele/AF via Getty Images

The stock market fell another 3% on Tuesday, following Monday’s sell-off. Bond yields touched record lows.

The big picture: Stocks continued to fall as the CDC said it expects the coronavirus to spread in the U.S. The Dow and S&P are more than 7% below the record highs seen earlier this month.

Go deeperArrowUpdated 2 hours ago - Economy & Business